How much does a car insurance producer bond cost in Maryland?
The Maryland Automobile Insurance Fund producer’s bond amount is set at $10,000, and SuretyBonds.com can get you approved for just $100. No credit check is required, so all applicants qualify for this low rate and can get approved instantly!
Simply submit a bond request or give us a call at 1 (800) 308-4358 and one of our surety specialists will get you set up with the bond you need right away.
|Bond Type||Bond Amount||Cost*|
|$10,000 Automobile Insurance Fund Producer's Bond||$10,000||$100||Buy Now|
Just fill out our easy bond request form online and you can get bonded within minutes using the fast and accurate services of SuretyBonds.com!
Why do I need this bond?
The Maryland Automobile Insurance Fund (MAIF) was founded by the Maryland State Legislature in 1972 and provides automobile liability insurance for Maryland residents who are unable to otherwise obtain any.
An insurance producer’s bond is an important step in the licensing process to become a MAIF producer. This bond allows the state or customers to file a claim against the principal (producer) in the case of financial loss due to the producer’s negligence or faulty business practices.
Don’t hesitate to contact us with any questions you have about these bonds. Give us a call at 1 (800) 308-4358 or fill out our online bond request form to get started! We issue this bond for just $100 - no credit check required!
What’s the fine print?
Anyone who wants to be a licensed insurance producer for the MAIF is required to obtain a Maryland auto insurance provider bond. These bonds are continuous until canceled, and the surety must give the state 30 days’ notice prior to cancellation.
How to become an automobile insurance fund producer in Maryland
Each application must be furnished with the following information:
- agency’s name and legal trade name, if applicable
- addresses of all offices and branches
- tax identification number
- principal’s contact information including name, date of birth, address, social security number and title
- companies represented
- surety bond
- certificate of good standing
Our experts are ready to answer all of your questions. Submit a bond request to connect with a surety specialist right away!
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